OceanFirst Financial (OCFC) Upgraded to Hold by ValuEngine
ValuEngine upgraded shares of OceanFirst Financial (NASDAQ:OCFC) from a sell rating to a hold rating in a research note released on Friday morning.
A number of other brokerages have also recently weighed in on OCFC. Zacks Investment Research upgraded shares of OceanFirst Financial from a sell rating to a hold rating in a report on Wednesday, December 19th. BidaskClub cut shares of OceanFirst Financial from a hold rating to a sell rating in a report on Tuesday, October 23rd. Finally, Boenning Scattergood restated a buy rating and issued a $28.00 price objective on shares of OceanFirst Financial in a report on Friday, January 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $32.50.
Shares of OCFC stock opened at $24.88 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.20 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.76. OceanFirst Financial has a fifty-two week low of $21.30 and a fifty-two week high of $30.90.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Monday, February 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, February 1st. OceanFirst Financial’s dividend payout ratio (DPR) is presently 34.34%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Investors Inc. PA grew its holdings in OceanFirst Financial by 72,207.8% during the 3rd quarter. Federated Investors Inc. PA now owns 186,554 shares of the savings and loans company’s stock worth $5,078,000 after acquiring an additional 186,296 shares in the last quarter. Virginia National Bank acquired a new position in OceanFirst Financial during the 3rd quarter worth approximately $3,859,000. Vanguard Group Inc grew its holdings in OceanFirst Financial by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 1,819,792 shares of the savings and loans company’s stock worth $49,535,000 after acquiring an additional 42,882 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in OceanFirst Financial during the 3rd quarter worth approximately $257,000. Finally, JPMorgan Chase & Co. grew its holdings in OceanFirst Financial by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 106,984 shares of the savings and loans company’s stock worth $2,912,000 after acquiring an additional 7,859 shares in the last quarter. Institutional investors own 74.41% of the company’s stock.
OceanFirst Financial Company Profile
OceanFirst Financial Corp. operates as the holding company for OceanFirst Bank N.A. that provides a range of community banking services. The company offers various deposit products to retail, government, and business customers, including money market accounts, savings accounts, interest-bearing checking accounts, non-interest-bearing accounts, and time deposits.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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